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A Stunning Rally of Bitcoin This Year

A Stunning Rally of Bitcoin This Year

Although there is a great number of doubters who did not believe in the future of Bitcoin, it has recently proved its possibility to succeed. Many players choose bitcoin casinos. Even due to its notorious popularity connected with criminal activity, Bitstamp data reveal a fantastic rally this year. It managed to overcome the $2,000 barrier within the weekend and was traded at $2,134.84 on Monday morning.

A Stunning Rally of Bitcoin

The rise of the bitcoin price to several factors was marked by the analysts. And the investors from China and in Japan revealed the greatest demand for this new digital currency.

After the introduction of new regulatory rules in Japan that included bitcoin into the general banking system, a real burst in the trading of digital currency has been noticed. According to CryptoCompare.com, the current account of Japan in the trade volume is 55% in comparison to 40% the week before.

At the same time, China also demonstrates a certain interest in the digital currency. The relations between the authorities of China and bitcoin seem to be love-hate for a long time, but now there is a certain softening in this relations, as a recent big drop in the difference in bitcoin costs between Chinese and US exchanges was noticed by ARK Invest’s Chris Burniske. Therefore, this can be a signal for a more tolerant attitude to bitcoin by China.

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Burniske tweeted, “The discount that $CNY #bitcoin exchanges trade to $USD exchanges has dropped from 20% to 5% in the period of a week. China awaking?”

In the US, some uncertainty in politics after the US President Donald Trump could face legal issues has increased the bitcoin demand as one of the most secure assets and the bitcoin price hit as much as $1,880 the previous week, which is a certain record.

One more country that played its role in the increased value of bitcoin is Brazil. Last week was the worst moment for the Bovespa since October 2008 as it dropped more than 8% after the statement that the President of Brazil Michel Temer talked about bribing ex-house Speaker Eduardo Cunha to prevent him from witnessing in a major corruption case. According to the Temer’s words, he is not going to resign but intends to prove the innocence in front of the Supreme Court.

Bitcoin has become one of the most common virtual currencies for the last few years. Online industries are interested in simplification of payment for their gaming and gambling services, such as casino, online slots, video games and many others. Also one of the main factors is that Bitcoin has a great security of saving money. See what will be next…

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